What is Escrow?
Escrow is an arrangement in which a neutral third party (escrow agent) takes instruction from buyer and seller to process documentation and handle funds in the real estate transactions.
Title Insurance Check Taxes & Legal Title Search Examination Issue Commitment Record Documents Issue Policy to Lender Issue Policy to Owner
Payments to Lender
Purchase & Sale Agreement Selling Agent â€“ Buyer Buyer Loan Application Listing Agent â€“ Seller Review & Clear Title
Record & Disburse Funds
Oversee Closing Documents Signed
ESCROW Prepare Legal Documents
all of this went into an Escrow?
Closing Statement & Escrow Instructions Determine Status Homeowners Dues Fees/Commissions Taxes Liens Mortgages
Lender Mortgage Insurance Underwriter Loan Approval Verification Buyers Funds Employment Appraisal Credit Report